"We want people wearing "hawai-chappal" to be able to fly in a 'hawai-jahaz". the aviation sector has huge potential of giving over three-and-half times returns as from an investment of Rs100, we can get Rs350 in a period of time by boosting trade and commerce, movement of people, tourism and all-round development, Modi said. He said the sector is growing tremendously and thus making quality infrastructure in the aviation sector is important.

Reliance Industries Chairman Mukesh Ambani said Mumbai is both his "janmabhoomi" (birthplace) and his own "karmabhoomi" (are of action) where the start-up company was established by his father, the late visionary Dhirubhai Ambani with a seed capital of Rs 1,000 and one employee.

The City Industrial Development Corporation (Cidco) is developing the new airport along with GVK Group. The government has set a timeline for the first flight to take off from the NMIA by December 2019.

On his visit to Mumbai, the prime minister also inaugurated the country's largest container terminal at Jawaharlal Nehru Port Trust (JNPT), which has been built at the cost of Rs 4,719 crore.

The airport is likely to cost Rs. 16,704 crore and is estimated to attract at least 10 million passengers per annum, once its first phase is operational. Presently, there are 450 aircraft operating in the country, but that number will more than triple in the next few years.

The Navi Mumbai International Airport will be the second international aviation hub for the financial capital, presently served by the Chhatrapati Shivaji International Airport that has nearly reached saturation point. He added that it was his government had formed an aviation policy that was not undertaken by any of the previous governments.

The Sagarmala project for port development is ushering not only development of ports but also port-led development, Modi said.

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